Market Monitor: New Jersey March 2021
Key Takeaways
  • Total New Jersey online poker revenue was $2.7 million in March 2021, a fall of 26% on March 2020.
  • The market is now lapping the start of the coronavirus pandemic, when online poker revenue exploded.
  • At $957,000 in revenue, Borgata/BetMGM was just a hair’s breadth from taking the market lead.

Total NJ online poker revenue was $2.7 million in March 2021, a fall of 26% on March 2020.

The market is now lapping the start of the coronavirus pandemic, when online poker revenue exploded as casinos closed and players stayed at home and sought online entertainment.

So, while the March performance looks bad on paper—indeed, it is one of the worst annual performances on the six-year record—it is hardly surprising. The market enjoyed 12 straight months of revenue growth between 40% and 200%. March 2020 was up almost double the prior year.

In fact, compared with March 2019, when operators generated a total of $1.9 million, total online poker revenue last month is up a very respectable 40%, a compound annual growth rate of 18.4%. This suggests healthy underlying growth in the market.

Among the three operators, Caesars (WSOP/888) remains on top, but the real standout is the trio of sites under the Borgata license (BetMGM, partypoker and Borgata). At $957,000 in revenue, it was just a hair’s breadth from taking the market lead—a very impressive performance given that it has sat at the bottom of the pack for much of its history.

In fact, despite the aforementioned tough comparative, Borgata actually managed to post year-over-year growth of 16%.

Meanwhile, online casino revenue continued its unchecked meteoric rise. Revenue last month hit $111 million, setting yet another all-time market high. It represents growth of 81%, the lowest in 12 months but still very strong performance.